Six-asset industrial portfolio trades for $38.5m in Miami
JLL Capital Markets announced that it arranged the $38.5 million sale of Milpa & Wesley Center, a 182,575-square-foot infill, shallow bay industrial portfolio in Miami.
JLL represented the seller, Cofe Properties, and procured the buyer, Miami Palmetto Property, an entity co-sponsored by East Capital Partners and ABR Capital Partners’ GP Investment Program.
The six-building portfolio is located at 6801–7500 NW 77th Ave. and boasts a high occupancy rate of 91 percent. The front-load industrial buildings feature clear heights ranging from 17 to 19 feet, providing ample vertical space. The presence of 12 dock-high and 101 grade-level doors enhances the property's logistics capabilities. In addition, the property offers ample parking for tenants and visitors with 275 dedicated spaces.